Iran Offshore Oil Company, in response to published news about how it secures its required vessels and how costs are paid, announced that currency payments to vessel owners abroad will not be made.
Vessel Procurement Process
The company stated that all stages of vessel procurement will be conducted through bidding and based on legal regulations and specific technical criteria. Priority in this process will be given to domestic vessels available within the country.
Iran Offshore Oil Company also noted that although vessel procurement contracts are signed in foreign currency, payments will be made in rials and according to the exchange rate announced by the Central Bank. Accordingly, no direct currency payments will be made to vessel owners.
Classification and Evaluation of Vessels
The vessels required by Iran Offshore Oil Company are categorized into six groups: service, passenger, supply, repair, tug (ASD), and multipurpose (AHTS). Each of these vessels is used for specific and specialized missions in various operational areas.
The selection and procurement process for vessels will be evaluated and scored by the company's experts based on tables and technical criteria. Bidders are required to upload necessary documents and information, including the year of construction and technical specifications of the vessel, and a registration inquiry will be conducted with the Ports and Maritime Organization.
After the initial evaluation, technical representatives of the company will visit the vessels and review the declared specifications. The total of these assessments will form the basis for determining the final score of the vessel.
Calculation and Payment of Vessel Service Costs
The method of calculating and paying for vessel services is also another important aspect announced by Iran Offshore Oil Company. Payments will be made according to the actual performance of the vessels and based on the contract provisions. A performance report for the vessels will be prepared and announced at the beginning of each month.
This report will include information such as engine performance and water and fuel consumption, which will be compared with the contract provisions. Excess costs will also be deducted from the contractor's claims.
After the vessel's performance is approved by the operational area, financial documents along with related documents will be uploaded in the system, and the payment process will be carried out in equivalent rials.
International Standards in Contracts
Iran Offshore Oil Company has emphasized that the contractual model for vessel procurement has been developed based on international standards and has been used as a model among other subsidiaries of the National Iranian Oil Company. The payments made under this model are reported to be lower compared to other companies.
The company also noted that all stages of vessel selection, contract signing, performance evaluation, and payment of contractor claims are conducted in compliance with relevant regulations and with transparency.
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